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Damani, Agrawal's New Stakes: IPO Losers?
25 Oct
Summary
- Two prominent investors hold newly disclosed stakes in NSE and Purple Style Labs.
- Both companies' shares trade below their IPO issue price.
- One company is highly profitable, the other is loss-making.
Radhakishan Damani and Mukul Agrawal's September 2026 filings disclosed stakes in the National Stock Exchange (NSE) and Purple Style Labs, respectively. These positions were acquired before each company's Initial Public Offering (IPO).
NSE, India's largest stock exchange, is a profitable entity with strong margins. Damani's pre-IPO stake is valued at approximately Rs 6,600 crore as of October 22, 2026. Despite its financial strength, NSE shares trade below their September 2026 IPO price.
Conversely, Purple Style Labs, operating Pernia's Pop-Up Shop, is a loss-making retailer. Mukul Agrawal's pre-IPO stake is valued around Rs 51 crore. The company faces challenges with widening losses and a stretched balance sheet, with its shares also trading below their September 2026 IPO price.
The article emphasizes that these are not new purchases but previously held positions emerging in filings. It advises investors to consider the entry price, noting the significant difference between early investors' costs and current market prices.
